Financial Assistance Programs by Provider
ECONOMIC DEVELOPMENT DEPARTMENT
New Mexico Finance Authority (NMFA) Smart Money Loan Participation Program Red River Ventures Verge
New Market Tax Credits SMART Money is a program of SWEDFA. It provides bank Red RiverVentures has $86 million of capital under management Verge only invests in New Mexico companies and prefers
New Market Tax Credits are designed to help low income participation loans, direct loans and loan guarantees to New and has invested in 18 different companies since 2000. Red River to invest in the early stages: the seed or ﬁrst round. Verge
communities develop business that provide economic Mexico businesses. The SMART Money loan participation is currently invests in a broad spectrum of industries, including will make later-stage investments only in follow-on rounds
development and jobs, including tribal areas with high levels of designed to lower the cost for the borrower and share the risk business and consumer services, healthcare, manufacturing of existing portfolio companies as their business models
unemployment and poverty. The credit is taken over a 7 year with the bank creating a beneﬁt to both the bank and borrower. and technology. The ﬁrm provides funding for business start- are validated and the risk factors are reduced. Their focus
period, 5% in each of the ﬁrst 3 years and 6% in each of the ﬁnal The borrower receives a ﬁxed interest rate typically 300-400 ups, expansions of existing businesses, recapitalizations and is primarily on technology business including life sciences,
4 years for a total of 39% of the original investment amount. basis points below the bank’s rate on the NMFA’s portion of management led acquisitions. manufacturing technologies, optics, semiconductors, software,
the loan because the NMFA’s “Base Rate” is based on treasury For more information: www.redriverventures.com telecommunications and energy.
NMFA has received an allocation of $110 million and eligible instruments of like maturity and adjusted upward for risk. The Contact: Plano, 972.265.7946 or email@example.com For more information: www.vergefund.com
activities may include: NMFA does not charge fees to either the borrower or bank, Contact: Albuquerque. 505.247.1038 or
• Loans or investments located in low-income census tracts; and allows the bank to keep a portion of its interest rate to Sun Mountain Capital firstname.lastname@example.org
• Development of commercial, industrial and retail service loans, capacity building and technical assistance to Sun Mountain’s regional direct investment programs do not
real estate projects (including community facilities) business owners and non-proﬁt organizations throughout the focus on speciﬁc industry sectors or in a particular stage in Vestor Partners, LP
in low income census tracts; state and the entire Navajo Nation. Loans are provided to the investment cycle. Sun’s portfolio companies reﬂect the Vestor is a private equity capital ﬁrm that invests with management
• Development of for-sale housing in low-income new and existing businesses for equipment, inventory, building investment opportunities indigenous to a particular region of in established businesses located principally in the Western United
census tracts. renovations and operating capital. Loans are provided to non- the country and are diversiﬁed by both stage and sector. States. The company specializes in growing successful businesses
proﬁts for such needs as bridge ﬁnancing against awarded private For more information: www.sunmountaincapital.com with revenues of $10 million to $50 million.
Public Project Revolving Fund (PPRF) and public contracts, capital improvements and equipment. Contact: Santa Fe, 505.594.5474 or For more information: www.vestor.com
The NMFA’s ﬂagship program is a unique revolving loan fund For more information: www.loanfund.org email@example.com Contact: Santa Fe, 505.988.9100 or firstname.lastname@example.org
known as the Public Project Revolving Fund (PPRF). The PPRF Contact: Albuquerque: 505.243.3196 or 1.866.873.6746
funds infrastructure and capital equipment projects with low- Tullis Dickerson (TD) Village Ventures
cost and low-interest rate loans. The key characteristics of MICRO-LENDERS TD focuses on several industry segments: biotechnology and Village Ventures is a seed and early stage venture capital ﬁrm
the PPRF is that all participating borrowers, regardless of their ACCION New Mexico life sciences, pharmaceuticals, health care services, and medical focusing on three primary sectors: consumer media and retail,
creditworthiness, receive ‘AAA’ insured interest rates; among ACCION offers loans and support to self-employed individuals devices. TD has established, funded and assisted in the growth health care and ﬁnancial services. The company has built a platform,
the lowest interest rates available in the market. who have limited or no access to traditional business credit. of dozens of public and private companies with revenues which it offers to other seed and early stage ﬁrms, to provide for
Loan amounts range from $200 to $150,000. ranging from zero into the billions of dollars. collaboration, co-investment and administrative cost sharing.
Local Government Planning Fund (LGPF) For more information: www.accionnewmexico.org For more information: www.tullisdickerson.com For more information: www.villageventures.com
The LGPRF provides up-front capital that can be used for water Contact: Albuquerque: 505.243.8844 or 1.800.508.7624 Contact: Greenwich, 203.629.8700 or Contact: Santa Fe. 505.594.5474 or
and wastewater projects, long-term master plans, conservation email@example.com firstname.lastname@example.org
plans and economic development plans. The planning money Enchantment Land Certiﬁed Development
comes in the form of a loan which may be forgiven when the Company (ELCDC) Valley Ventures vSpring
ﬁnal project is ﬁnanced through NMFA. ELCDC is a non-proﬁt organization licensed by the Small Valley Ventures, with ofﬁces in Phoenix and Albuquerque, is vSpring, a traditional early-stage venture capital ﬁrm with over $350
Business Administration to administer the SBA 504 Loan an institutionally funded venture capital partnership with $85 million of committed capital under management, targets information
Statewide Economic Development Program (SWEDFA) Program. SBA 504 provides expanding small businesses with million under management. It invests in and assists emerging technology and life sciences companies in the Intermountain West
The NMFA with the New Mexico Economic Development 90 percent ﬁnancing to buy commercial real estate; make growth companies in the greater Southwest. region. Areas of focus include enterprise software, networking and
Department (NMEDD) are partners in this lending program for leasehold improvements; buy and install machinery, equipment For more information: www.valleyventures.com communications, security software, Internet, mobile computing,
private businesses and non-proﬁt companies. SWEDFA offers and ﬁxtures; and pay soft costs associated with the project. Contact: Tempe, 480.661.6600 or Jock@ValleyVentures.com drug discovery, drug delivery, diagnostics, and medical devices.
a variety of ﬁnancing strategies to help fund small business For more information: www.elcdc.com For more information: www.vspring.com
including bank participations, direct loans, loan guarantees and Contact: Albuquerque: 505.843.9232 or 1.888.282.9232 Contact: Salt Lake City, 801.942.8999 or email@example.com
taxable and tax-exempt bonds.
2 NEW MEXICO Financial Assistance Programs by Provider NEW MEXICO Financial Assistance Programs by Provider 7
in the Western United States. Mesa Capital Partners The Loan Fund
For more information: www.epicvc.com Mesa Capital Partners is an early stage private equity firm The Loan Fund is a private, non-proﬁt organization that provides
Contact: Salt Lake City, 801.524.8939 or Todd@epicvc.com focusing on high-potential small business in industries and loans, capacity building and technical assistance to business owners
geographic areas underserved by other capital providers. and non-proﬁt organizations throughout the state and the entire
Flywheel Ventures Mesa targets small businesses across a wide variety of Navajo Nation. Loans are provided to new and existing businesses
Flywheel Ventures is a seed and early-state venture capital manufacturing and services industries, typically outside for equipment, inventory, building renovations and operating
ﬁrm focused on information technology and physical sciences sectors commonly considered “high-tech.” Investment capital. Loans are provided to non-proﬁts for such needs as bridge
ventures in the Southwestern/Rockies region. The ﬁrm has candidates typically have annual revenues under $3 million. ﬁnancing against awarded private and public contracts, capital
ofﬁces in Santa Fe, Albuquerque and the Silicon Valley. Equity investment sizes range from $500,000 to $2 million. improvements and equipment.
For more information: www.ﬂywheelventures.com For more information: www.mesacapitalpartners.us/ For more information: www.loanfund.org
Contact: Santa Fe, 800.750.7870 or Contact: Santa Fe: 505.428.2990 Contact: Albuquerque: 505.243.3196 or 1.866.873.6746
Murphree Venture Partners (MVP) New Mexico Economic Development
Fort Washington Capital Partners MVP typically invests in companies with revenue traction in the Department Community Development
Fort Washington has over $1.3 billion in private equity $3 million to $30 million range, but will occasionally invest in a Revolving Loan Fund (CDRLF)
commitments and 23 years of experience. The ﬁrm has startup entity. MVP invests in the Sun Belt region with ofﬁces The CDRLF provides loans to New Mexico communities.
investments with 115+ underlying funds and 40 direct co- in Houston, Austin, Baton Rouge and Birmingham. Loans are available for projects which stimulate job creation and
investments. The organization includes nearly 40 private equity For more information: www.murphreeventures.com prosperity and may be used for infrastructure improvements,
and support professionals. Contact: Houston, 713.655.8500 or acquisition of real property, construction, rehabilitation, public
For more information: www.fortwashington.com firstname.lastname@example.org facilities, and other real property investments.
Contact: Santa Fe, 505.986.1552 or • Maximum loan amount is $250,000 per project.
email@example.com New Mexico Community Capital (NMCC) • Terms of repayment are negotiable, not to exceed 10
NMCC provides investment, management and consulting years.
International Venture Fund (IVF) or experience to existing companies seeking equity ﬁnancing. • Interest rate is set at half the treasury bond equivalent
Invencor, Inc. NMCC targets rural and underserved communities throughout rate.
Headquartered in the Silicon Valley, IVF also has an ofﬁce in New Mexico. Forty percent of its total fund is invested outside • Private property may not beneﬁt directly from this
Santa Fe. It focuses on investing in companies in Arizona, Albuquerque, Santa Fe and Los Alamos. Typical investments are program.
Hawaii, New Mexico and Utah, but considers investments in between $500,000 and $1 million. • The political subdivision must pledge gross receipts
other areas. IVF serves the investment gap between the angel For more information: www.nmccap.org tax to repay the loan.
community and larger venture funds. Contact: Bernalillo: 505.924.2820 or 1.866.222.1552 Contact Kathy McCormick, 505.247.1750, X3643 or
For more information: www.invencor.com firstname.lastname@example.org.
Contact: Menlo Park, 650.330.1210 or Psilos Group Partners
email@example.com Psilos has ofﬁces in New York, the San Francisco Bay Area WESST Corp
and Santa Fe. The ﬁrm is currently investing in the healthcare WESST Corp is a non-proﬁt, economic development
ITU Ventures services, healthcare information technology, medical device, organization that provides business skills training, product
ITU ﬁnds, develops, and exits technology businesses. Typically medical instrumentation and specialty pharmaceutical sectors. marketing, development opportunities, and small loans
these are companies that have emerged from research For more information: www.psilos.com (including SBA microloans) to viable start-up or growing New
universities or institutions. Contact: Santa Fe, 505.995.8500 or firstname.lastname@example.org Mexico businesses owned by women and minorities.
For more information: www.itu.com For more information: www.wesst.org
Contact: Los Angeles, 310.777.5900 or Chad@itu.com Contact: 1.800.GO.WESST
6 NEW MEXICO Financial Assistance Programs by Provider 3
LOAN GUARANTEE PROGRAMS EQUITY
USDA Business and Industry Loan Altira Group
Guarantee Program Formed in 1996, Altira invests in companies that develop and
The purpose of this program is to improve, develop, or ﬁnance commercialize energy technologies in the areas of natural
business, industry, and employment in rural communities. Businesses resources, clean energy and electric power. Altira does not
ﬁnanced under this program must be located in rural areas under invest in projects for petroleum exploration and production
40,000 in population and non-urbanized areas. Priority will be or for power generation.
given to communities with populations under 25,000. The program For more information: www.altiragroup.com
provides businesses with a loan guarantee with up to 80% on loans Contact: Denver, 303.592.5500 or
for existing businesses with a maximum loan amount of $5 million. email@example.com
This loan program will ﬁnance businesses with working capital,
machinery, equipment, and ﬁxtures and commercial real estate. Arch Ventures
USDA administers the program and can provide certiﬁed lenders ARCH provides seed and early stage venture capital for
to package and process the loan. technology ﬁrms, with a special expertise in co-founding and
For more information: www.rurdev.usda.gov building technology ﬁrms from startup. ARCH has experience
Contact: Albuquerque: 505.761.4953 in investing in life sciences, physical sciences and information
US Small Business Administration (SBA) For more information: www.archventure.com
The New Mexico SBA ofﬁce offers opportunities for all Contact: Austin, 512.765.5830 or firstname.lastname@example.org
prospective entrepreneurs to start, build and grow their
own businesses. The SBA provides technical assistance, Blue Sage Capital, LP
loans, procurement opportunities and other assistance to Blue Sage Capital is a $170 million private equity fund specializing
entrepreneurs and existing businesses alike. The SBA provides in growth, recapitalization and buyout ﬁnancings of middle market
the following loan guarantee programs: companies located primarily in Texas and the Southwest. Most of
• 7(a) Blue Sage’s investments are in established, proﬁtable companies
• 7(a) SBA Express loans up to $350,000 (which may be with $5 to $100 million in revenues and $2 to $8 million of cash
used as a line of credit) ﬂow at the time of investment. Blue Sage will consider a variety of
• 7(a) Community Express loans up to $250,000 manufacturing, distribution and business service companies.
• 7(a) Patriot Express loans up to $500,000 Contact: Albuquerque, 505.843.4267 or
• 7(a) CAPLines up to $2 million email@example.com
• 7(a) International Trade loans up to $2 million
• 7(a) Export Working Capital up to $2 million CVM
• Microloans through nonproﬁt lending organizations 2575 Park Lane, Suite 200 • Lafayette, CO 80026
listed in this publication 303.440.4055 • Contact: Ed Wetherbee
• 504 loans through the Certiﬁed Development EWetherbee@coloradoenergy.com
Companies licensed through the SBA and also listed
in this publication Epic Ventures
For more information: www.sba.gov/nm Epic, founded by Zions Bank, Epic does not focus on a particular
Contact: New Mexico District Ofﬁce, Albuquerque: technology sector, but looks for companies with the potential
505.248.8225 for explosive growth. The ﬁrm prefers to invest in companies